The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa

China’s cut of US dollar weighting in key index will boost global fortunes of yuan, economists say

  • China has cut the US dollar weighting in a key yuan exchange rate index for only the second time since 2015
  • The change will help reduce China’s reliance on the American currency and promote greater international use of the yuan in financial transactions

The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
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